Treasury has finalized them. They're at OMB now.

I'm sorry if this is a really simple question. But can OMB change the regs after the treasury has already finalized them? I'm confused as to actually wtf is going on right now.

Does the OMB have the power to change them at this point if they want to? If not, why aren't they being released?

Help a layman understand!

OMB is part of the Executive Office of the President, so if the regs are bad now, does that mean we don't stand a chance:

http://en.wikipedia.org/wiki/Office_...ent_and_Budget

I think many here are confused as to what is happening, anyone or is it too early to say anything.

Now I'm sure the regs will suck but calling this action a loophole is a stretch. If it had happened six months ago nothing would be different except you would have had six months to see the effects.


As to your question the answer is yes but. If the house and the Senate passed a moratorium on the proposed regulations being implemented the President would still need to sign or veto the bill within ten congressional working days or it would automatically become law (unless Congress is not in session). He could wait the ten days, veto it and return to the chamber that originated the bill where a veto would need to be overridden. The regs will be implemented long before this has time to occur.

Jimbo

"I'm so scared."

These are final acts of office, all filed to take effect Jan 20th. Loophole or not, this is rearguard scorched earth politics. Its not just poker. Ugly **** is going down at the EPA as well. Clinton did some of the same crap. Im not sure its as simple as a law blocking them, as publishing the regulations is an executive branch function. I think the best that can be done is to restart the whole process over again, which has established timelines. Not allowing OMB to publish new regulations within say 180 days of an election would allow
some democratic(small d) input into the item. Essentially, this is throwing a monkey wrench at a new administration.

On a side not, expect more and worse in terms of recess appointments, pardons, and whatever end runs around good governance and the Constitution Bush Inc can come up with. Last minute indictments against gaming entities as well.

We'll have lots of company. I wonder if the regulation classifying The Pill as an abortion method will get pushed through. The RFC for that one got thousands of comments. Poker player activism is small time compared to that. I'm guessing the proposed regulation was just a gesture for the radical base, and they won't finalize it.

Any which way, there's gonna be a big mess to clean up in January.

I understand your angst however Congress does not have authority to limit the Presidents term to less than four full years which is effectively what you are suggesting. You are also forgetting that congress passed the law that requires the regulations to be enacted in the first place.

You are correct about the new administration being able to restart the regulatory process and begin from scratch but that normally takes years and Obama's priorities will lie elsewhere for years to come. Before you ask a new President cannot otherwise suspend regulations which are both final and have gone into effect so that can't happen either. In 1999 congress also limited executive orders to a 30 day review timeframe except under specifically outlined emergency circumstances

The two choices left are the Congressional Review Act which has only ever been successfully used one time in history or the Courts which are naturally reluctant to overturn regulations that followed all the prescribed processes.



Jimbo

^

And the winner of the Understatement of the Year goes to...

lol worded very nicely. I also hope all your assessments are true.

I don't see the banks using resources to enforce something that when enforced is only going to cost them more money.

In that case the next thing you won't see is that bank still in business.

Jimbo

Just finished reading the entire thread. Basically what it sounds to me like is that online poker is f*cked. I'm about to start cashing out money now, thanks.

Thank you. I know modern man has a lot of faith in the validity of paperwork and the sheer power of bureaucracy, but the history of international commerce shows there's not a lot of defense against forged credentials, one way or the other.

"Oh, dear, that ship flying the white flag appears to be in distress. Let's go help."

(Comes within cannon range, "disabled" ship hoists the Jolly Roger)

OH SHI-



A quote from a man who lived just up the road from me once, for you more civilized 2+2ers, naysayers, who speak as if you were authorities on such matters: